Corner-lot pool home in a walkable Cape Coral location with owned solar, impact windows, and extensive recent updates. This 3-bedroom, 2-bath property offers 1,456 square feet under air, city water and sewer, and a flexible layout that works well as a full-time residence, seasonal escape, or rental investment. Inside, the practical floor plan and tile flooring throughout make everyday living easy and low-maintenance. The living and dining spaces feel open and comfortable, with plenty of natural light. The kitchen and bedroom layout offer functional, usable space without wasted square footage, making the home feel larger than its numbers suggest. Major improvements have already been made, providing valuable peace of mind. Big-ticket updates include impact windows installed in 2021, a new roof in 2021, new HVAC in 2020, and an updated electrical panel in 2022. The home also features owned, not leased, solar panels, which significantly reduce electric costs while adding long-term efficiency and value. The location is a standout feature. Just a short distance from downtown Cape Coral, you’ll enjoy convenient access to popular restaurants, nightlife, shops, and entertainment. Cape Elementary is also within walking distance. This setting offers an in-town, walkable lifestyle while still providing the comfort, privacy, and yard space of a single-family home. Outdoors, the fenced yard enhances privacy and versatility, with room for pets, play, gardening, or simply relaxing in the sun. Being on a corner lot adds extra space and a more open feel compared to many interior lots. The large in-ground pool is a central highlight, offering a great place to cool off, entertain, or unwind, with ample space around it to create your ideal outdoor living setup. Automated sprinklers add convenience and help keep the yard looking its best. A single-car garage adds everyday functionality, with laundry located in the garage, along with an additional 8’ x 10’ storage closet that provides valuable space for tools, equipment, seasonal items, or extra household storage. With major systems already updated, owned solar panels delivering meaningful utility savings, city utilities in place, and a convenient location near downtown Cape Coral, this home offers a compelling combination of comfort, efficiency, and long-term value. This is a potential short sale.
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
